Gemfields seeks to raise $30m through a rights issue
Johannesburg- and London-listed Gemfields says it will be seeking shareholder approval to, among other things, issue 556.2-million new shares to raise about $30-million by way of a fully committed and underwritten rights issue. CEO Sean Gilbertson says Gemfields has considered options outside of the group for its wholly-owned luxury jeweller Fabergé as a means of addressing a forecast near-term working capital shortfall.
Johannesburg- and London-listed Gemfields says it will be seeking shareholder approval to, among other things, issue 556.2-million new shares to raise about $30-million by way of a fully committed and underwritten rights issue. CEO Sean Gilbertson says Gemfields has considered options outside of the group for its wholly-owned luxury jeweller Fabergé as a means of addressing a forecast near-term working capital shortfall.
